BNP Paribas Arbitrage SA increased its holdings in United Rentals, Inc. (NYSE:URI) by 323.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,221 shares of the construction company’s stock after purchasing an additional 70,420 shares during the quarter. BNP Paribas Arbitrage SA owned approximately 0.11% of United Rentals worth $15,929,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Signaturefd LLC bought a new stake in United Rentals during the first quarter valued at $128,000. First Dallas Securities Inc. bought a new stake in United Rentals during the fourth quarter valued at $129,000. Cypress Capital Management LLC WY boosted its position in United Rentals by 73.0% during the fourth quarter. Cypress Capital Management LLC WY now owns 770 shares of the construction company’s stock valued at $132,000 after acquiring an additional 325 shares during the last quarter. Optimum Investment Advisors bought a new stake in United Rentals during the first quarter valued at $164,000. Finally, Bronfman E.L. Rothschild L.P. boosted its position in United Rentals by 63.4% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 964 shares of the construction company’s stock valued at $166,000 after acquiring an additional 374 shares during the last quarter. 85.74% of the stock is currently owned by institutional investors.
URI opened at $164.46 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.92 and a debt-to-equity ratio of 2.75. United Rentals, Inc. has a fifty-two week low of $100.62 and a fifty-two week high of $190.74. The stock has a market capitalization of $14.04 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 0.59 and a beta of 2.55.
United Rentals announced that its board has authorized a share buyback program on Wednesday, April 18th that allows the company to repurchase $1.25 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 9.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, CEO Michael Kneeland sold 30,000 shares of the company’s stock in a transaction dated Friday, April 20th. The shares were sold at an average price of $169.00, for a total value of $5,070,000.00. Following the sale, the chief executive officer now owns 249,925 shares in the company, valued at approximately $42,237,325. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.00% of the company’s stock.
A number of analysts have commented on URI shares. Morgan Stanley assumed coverage on shares of United Rentals in a research report on Friday, March 2nd. They set an “overweight” rating and a $194.00 price target on the stock. ValuEngine lowered shares of United Rentals from a “buy” rating to a “hold” rating in a report on Monday, April 2nd. Finally, Bank of America dropped their price objective on shares of United Rentals from $230.00 to $186.00 and set a “buy” rating on the stock in a report on Thursday, May 3rd. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. United Rentals presently has a consensus rating of “Hold” and an average target price of $188.64.
United Rentals Profile
United Rentals, Inc, through its subsidiaries, operates as an equipment rental company. It operates in two segments, General Rentals; and Trench, Power, and Pump. The General Rentals segment engages in the rental of general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms, such as boom lifts and scissor lifts; and general tools and light equipment comprising pressure washers, water pumps, and power tools.
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